China XLX Fertiliser Announces 2024 Annual Results

Two Majors, One Share, Joint Service" Marketing Model to Bolster Competitive Edges

2024 Annual Results Highlights:

• The Group's revenue reduced by 1.5% YoY to approximately RMB 23.13 billion.

Profit attributable to owners of the parent climbed by 23.0% YoY to approximately RMB 1.46 billion.

Final dividend for 2024 was RMB 26 cents per share, up by 8.3% year-on-year.

The Group enhanced the competitiveness and brand power of its differentiated products through "Two Majors, One Share, Joint Service" marketing model.

HONG KONG, HK / ACCESS Newswire / March 30, 2025 / China XLX Fertiliser Ltd. ("China XLX" or the "Company", together with its subsidiaries collectively known as the "Group") (HKSE:01866.HK) announced that the Group's revenue for the year ended 31 December 2024 (the "Period") reduced by 1.5% year-on-year to approximately RMB 23.13 billion. Profit attributable to owners of the parent grew by 23.0% year-on-year to approximately RMB 1.46 billion. The Board of Directors proposed the payment of a final dividend of RMB 26 cents per share for 2024, up by 8.3% from the previous year.

During the Period, the coal chemicals industry saw a subdued recovery due to a combination of factors including declined domestic coal prices, a supply glut and tightened export policy, which weighed on the prices of related products and hence the financial performance of market participants. Despite a mild decline in its revenue for the Period, the Group maximized its capability to withstand the pressure on its financial results arising from price fluctuations and the soft market through newly-added high-quality production facilities and greater economies of scale.

While integrating its superior resources and focusing on the development of core businesses, the Group disinvested its entire interest in Tianxin Coal Mine and realized a substantial investment gain. As a result, its profit for the Period expanded by 23.0% year-on-year to approximately RMB 2.01 billion. Riding on the development trend of China's agriculture, the Group implemented innovative marketing model featuring 兩大一分共服務 to strengthen its brand awareness and market share. Meanwhile, the polyformaldehyde project at Xinjiang Base with annual capacity of 60,000 tons and the Guangxi Base Compound Fertiliser Project with annual capacity of 300,000 tons commenced operation at the end of last year, laying a solid foundation for the Group to tap into new markets and new business areas.